"Greg Wasson brings to Verizon an in-depth knowledge of the retail and health care industries," said Lowell C. McAdam, Verizon chairman and chief executive officer. "He offers a unique perspective as the leader of a successful Fortune 50 company focused on innovation, traditional and nontraditional growth, operational and technical excellence, and multichannel integration. We welcome him as a valuable addition to our board."

Wasson will bring Verizon's total board membership to 13.

Wasson has been Walgreens president and CEO, and has served as a Walgreens director, since February 2009. Walgreen Co. is based in Deerfield, Ill., and together with its subsidiaries operates the largest drugstore chain in the U.S., with $71.6 billion in net sales, 8,385 locations and 240,000 employees in fiscal 2012.

Wasson joined Walgreens as a pharmacy intern in 1980, and after earning his bachelor's degree from Purdue University in 1981 he managed several Houston Walgreens drugstores before being promoted to district manager in 1986. He was promoted to a regional vice president of store operations in 1999.

In 2001, he was named executive vice president of Walgreens Health Initiatives, the company's pharmacy benefit manager. Wasson was promoted to president of Walgreens Health Initiatives in 2002, and named a Walgreens senior vice president in 2004 and a Walgreens executive vice president in 2005. He became president and chief operating officer of Walgreens in 2007 before being appointed CEO in 2009.

Wasson serves on the board of directors of Alliance Boots GmbH, the leading international pharmacy-led health and beauty group, in which Walgreens holds a 45 percent equity stake.

He is board chairman for the National Association of Chain Drug Stores and also serves on the boards of the Retail Industry Leaders Association, the Healthcare Leadership Council and the Consumer Goods Forum, among other organizations. He is a member of The Economic Club of Chicago, The Business Council, The Wall Street Journal CEO Council and the civic committee of the Commercial Club of Chicago. Among activities on behalf of various non-profit organizations, he served as chairman for the Illinois chapter of the American Cancer Society's CEOs Against Cancer.

Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, with more than 98 million retail connections nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries, including all of the Fortune 500. A Dow 30 company with nearly $116 billion in 2012 revenues, Verizon employs a diverse workforce of 183,400. For more information, visit www.verizon.com.